Welcome to our dedicated page for Desktop Metal news (Ticker: DM), a resource for investors and traders seeking the latest updates and insights on Desktop Metal stock.
Desktop Metal, Inc. (NYSE: DM) regularly issues news that reflects its role in Additive Manufacturing 2.0 and the industrial 3D printing market. Company announcements cover topics ranging from corporate strategy and legal developments to product qualifications, technology showcases, and sector-specific applications in areas such as dental, automotive, and industrial manufacturing.
Recent news has focused heavily on the proposed merger between Desktop Metal and Nano Dimension Ltd. Desktop Metal has disclosed multiple legal actions in the Delaware Court of Chancery, alleging breaches of the merger agreement and seeking specific performance to require Nano Dimension to obtain regulatory approvals and complete the transaction. Updates include the granting of an expedited trial and a later court ruling that, according to Desktop Metal, found Nano Dimension in material breach and ordered steps intended to allow the merger to close.
Beyond corporate and legal news, Desktop Metal frequently highlights developments in its product and materials portfolio. Examples include qualification of a 100% recycled nickel-based superalloy from Continuum Powders for use on its metal binder jet 3D printers, as well as the showcasing of technologies such as the Figur G15 Pro Digital Sheet Forming system, the Studio System, Shop System, InnoventX, and the PureSinter Furnace at major industry events like IMTS.
Desktop Health, the company’s dental and medical brand, also generates news through validations of Flexcera nanoceramic resins for additional 3D printer platforms and clinical indications, including implant-supported denture provisionals. Visitors to this news page can review these updates to understand how Desktop Metal is positioning its technologies, how its merger process is progressing, and how its materials and systems are being adopted across different applications.
Desktop Metal (NYSE: DM) announced that its subsidiary Aidro has become the first in the world to receive DNV's global Additive Manufacturing (AM) Manufacturer certification for both binder jetting and laser powder bed fusion technologies. These certifications validate Aidro's capabilities in producing high-quality components for the energy, oil & gas, and maritime sectors. Achieving the highest AMC 3 level for laser powder bed fusion, Aidro demonstrated rigorous compliance through extensive review and testing. This milestone underscores Aidro's leadership in enhancing the adoption of Additive Manufacturing 2.0, providing benefits such as lighter parts and on-demand manufacturing. Aidro's collaboration with DNV since 2018 has led to significant advancements in standards for AM in critical industries, positioning them as a key player in digital manufacturing solutions.
Desktop Metal (NYSE: DM) announced it will release its financial results for the first quarter ending March 31, 2023, after market hours on May 10, 2023. The company will provide a summary presentation on its Investor Relations website. A conference call will be held on the same day at 4:30 p.m. ET, accessible via phone or online. This session will discuss the financial results and is expected to offer insights into Desktop Metal's performance and future outlook in the additive manufacturing sector, which focuses on on-demand production across various industries.
Desktop Metal (NYSE: DM) is ramping up its focus on additive manufacturing of technical ceramics, responding to increased global demand in sectors like aerospace and automotive. The company highlights its capability to 3D print large technical ceramic parts using binder jetting technology, which simplifies production by eliminating traditional manufacturing constraints. Key materials include silicon carbide, carbon, and tungsten carbide-cobalt. Desktop Metal's systems allow for quick fabrication of complex designs across various production volumes, optimizing material properties and internal structures without the need for costly molds.
Desktop Metal (NYSE: DM) has announced that its copper alloy C18150, also known as chromium zirconium copper, is now qualified for binder jet 3D printing on the Production System™. This advancement, achieved in collaboration with Sandvik Additive Manufacturing, signifies an expansion of Desktop Metal's material offerings to a total of 23 metals. The material is particularly suited for automotive applications, capable of withstanding temperatures up to 500°C. This development will be discussed in detail at AMUG 2023 in Chicago from March 19-23.
Desktop Metal, Inc. (NYSE: DM), in collaboration with Detroit-based TriTech Titanium Parts LLC, has successfully customer-qualified the titanium alloy Ti64 for binder jet 3D printing on its Production System™. This advancement simplifies the traditionally complex and costly manufacturing of titanium parts, leveraging the high-speed Single Pass Jetting (SPJ) technology. TriTech, certified ISO 9001:2015, utilizes multiple manufacturing methods including binder jetting, and aims to enhance production efficiency. Desktop Metal now offers 23 metals through binder jetting, expanding its capabilities in additive manufacturing. TriTech will showcase its binder jetting experience at AMUG 2023 in Chicago.
Desktop Metal (NYSE: DM) has successfully qualified 304L stainless steel for use on its Shop System™ binder jet printer, alongside other materials including 17-4PH and 316L. This material is recognized for its high tensile strength and corrosion resistance, making it suitable for applications in food processing and the energy sector. The collaboration with CETIM focuses on developing 304L for critical parts, enhancing production efficiency by reducing lead times and costs. The addition of 304L marks the fifth material qualified for printing on the Shop System, expanding options for manufacturers.
Desktop Metal (NYSE: DM) has launched Live Suite, a comprehensive software package designed for users of its 3D printing systems, enhancing build preparation and management in a single cloud-based hub. The suite includes tools such as Live Sinter, a simulation software that utilizes advanced algorithms for precise 3D printing of metal and polymers. By integrating this package with its existing hardware, Desktop Metal aims to streamline user experience while eliminating additional software costs. CEO Ric Fulop emphasized the software’s role in making additive manufacturing accessible and intuitive, promising high-quality results and a user-friendly interface.
Desktop Metal reported record revenue of $60.6 million for the fourth quarter of 2022, reflecting a 6.8% increase year-over-year, and full-year revenue of $209.0 million, up 86.0% from 2021. The company aims for 2023 revenue between $210 million and $260 million while targeting $100 million in annualized cost savings. Despite a GAAP net loss of $312.4 million in Q4 and a full-year loss of $740.3 million, Desktop Metal emphasizes a focus on profitability and growth, including a strategic collaboration with Align Technology for digital dentistry solutions.
Desktop Metal (NYSE: DM) will release its financial results for Q4 and full-year 2022 on March 1, 2023, after the market closes. A summary presentation will be available on their Investor Relations website. A conference call will follow at 4:30 p.m. ET, accessible at 1-877-407-4018 (or 1-201-689-8471 for international callers). This call will include discussions on the financial results and a simultaneous webcast will also occur. Desktop Metal is a leader in Additive Manufacturing 2.0, offering advanced 3D printing technologies for metal, polymer, and more, aimed at improving production efficiency.
Desktop Health has launched the Einstein Pro XL, a production-grade 3D printer tailored for dental labs and medical device manufacturers. Priced under $40,000, it features HyperPrint™ technology, allowing speed enhancements, capable of printing over 330 crowns in just 30 minutes. The printer's unique capability to handle Flexcera Smile Ultra+, an FDA-cleared material for durable dental restorations, sets it apart. The Einstein Pro XL will be showcased at LMT Lab Day in Chicago and the International Dental Show in Cologne, Germany, in February and March 2023, respectively.